Gravimetric Analysis Essay

The purpose of experiment 1, also named Gravimetric Analysis, is to study the use of analytical chemistry. Analytical chemistry is a branch of chemistry that involves determining what matter is and how much of it exists. It is the science of separating, identifying, and determining the components that make up a compound and determining a specific amount of that compound. There are two types of analytical chemistry: qualitative and quantitative. This experiment uses quantitative analysis to determine the amount of a substance, or several species, and measure it in numerical terms. More specifically, this experiment uses gravimetric analysis, a form of quantitative analysis that uses an analytical balance, an instrument that yields accurate and precise data, to measure the masses of several substances. Experiment 1 involves the precipitation of a complex compound called aluminum 8-hydroxyquinilinate, also called Alq3. In order for this precipitation to occur, an organic precipitating agent, 8-hydroxyquinilinate (abbreviated OxH) is used to react with aluminum ions to form this complex compound. For this reaction to take place, OxH must be deprotonated, so that its anion, Ox-, will bond with the aluminum ions (the OxH molecule itself will not react with aluminum ions). As a result, the pH of the solution has a major effect on the precipitation in this experiment. If the pH is too low and there is an excess of hydrogen ions, then by Le Chatelier’s principle, the equilibrium will shift to the left, creating more OxH molecules. Ox- will no longer be available and a precipitation will not occur. If the pH is too high and there is an excess of hydroxide ions, the aluminum ions will react with the hydroxide ions. There will be no aluminum to react in the precipitation. If the pH is neutral, OxH is not very soluble and may cause it to precipitate out itself. So in order for this precipitation in this experiment to take place, it is vital that a buffer solution of ammonium acetate is used to control the pH of the solution. Also, the less aluminum ions in the solution, the more it will precipitate. In order to do this, an excess of OxH is added to shift the reaction towards the precipitate form. However, OxH has a limited solubility in water, so too much of an excess cannot be added. In order for the precipitate to work best in this experiment, we would have to allow it to digest. This lets use filter the precipitate completely. We do this by drying the precipitate in an oven and letting it age overnight. This promotes the formation of fewer, larger, and more pure particles of the precipitate. In the end, we are trying to find the concentration of aluminum in the solution (millimole of aluminum per mililiter of solution). We do this by converting the mass of the precipitate into moles and using mole-to-mole ratio and stoichiometry; we find the moles of aluminum ions. We then divide this by the volume of the solution to find the molarity, or concentration, of the aluminum ions.

Didion’s on Morality Essay

What is it that forms and drives our â€Å"moral behaviors†? Are we born with a basic sense of morality or do we develop a set of moral â€Å"social codes† to keep society from falling into chaos and anarchy? In her essay â€Å"On Morality,† Joan Didion dissects what lies beneath the surface of humanity’s morality. By recounting several stories and historical events, she shows that morality at its basic â€Å"most primitive level† is nothing more than â€Å"our loyalties to the ones we love,† everything else is subjective. Didion’s first story points out our loyalty to family. She is in Death Valley writing an article about â€Å"morality,† â€Å"a word [she] distrust more every day. † She relates a story about a young man who was drunk, had a car accident, and died while driving to Death Valley. â€Å"His girl was found alive but bleeding internally, deep in shock,† Didion states. She talked to the nurse who had driven his girl 185 miles to the nearest doctor. The nurse’s husband had stayed with the body until the coroner could get there. The nurse said, â€Å"You just can’t leave a body on the highway, it’s immoral. † According to Didion this â€Å"was one instance in which [she] did not distrust the word, because [the nurse] meant something quite specific. † She argues we don’t desert a body for even a few minutes lest it be desecrated. Didion claims this is more than â€Å"only a sentimental consideration. † She claims that we promise each other to try and retrieve our casualties and not abandon our dead; it is more than a sentimental consideration. She stresses this point by saying that â€Å"if, in the simplest terms, our upbringing is good enough – we stay with the body, or have bad dreams. † Her point is that morality at its most â€Å"primary† level is a sense of â€Å"loyalty† to one another that we learned from our loved ones. She is saying that we stick with our loved ones no matter what, in sickness, in health, in bad times and good times; we don’t abandon our dead because we don’t want someone to abandon us. She is professing that morality is to do what we think is right; whatever is necessary to meet our â€Å"primary loyalties† to care for our loved ones, even if it means sacrificing ourselves. Didion emphatically states she is talking about a â€Å"wagon-train morality,† and â€Å"For better or for worse, we are what we learned as children. † She talks about her childhood and hearing â€Å"graphic litanies about the Donner-Reed party and the Jayhawkers. She maintains they â€Å"failed in their loyalties to each other,† and â€Å"deserted one another. † She says they â€Å"breached their primary loyalties,† or they would not have been in those situations. If we go against our â€Å"primary loyalties† we have failed, we regret it, and thus â€Å"have bad dreams. † Didion insist that â€Å"we have no way of knowing†¦what is ‘right’ and what is ‘wrong,’ what is ‘good and what is ‘evil’. † She sees politics, and public policy falsely assigned â€Å"aspects of morality. † She warns us not to delude ourselves into thinking that because we want or need something â€Å"that it is a moral imperative that we have it, then is when we join the fashionable madmen. † She is saying this will be our demise, and she may well be correct. Hitler’s idea that he had â€Å"a moral imperative† to â€Å"purify the Aryan race† serves as a poignant reminder of such a delusion. In 1939 Hitler’s Nazi army invaded Poland and started World War II. World War II came to an end in large part due to the United States dropping two atomic bombs. If the war had continued and escalated to the point of Hitler’s Nazis and the United States dropping more atomic bombs we could have destroyed most, if not all, of humanity, the ultimate act of â€Å"fashionable madmen. † We may believe our behaviors are just and righteous, but Didion’s essay makes us closely examine our motives and morals. She contends that madmen, murders, war criminals and religious icons throughout history have said â€Å"I followed my own conscience. † â€Å"I did what I thought was right. † â€Å"Maybe we have all said it and maybe we have been wrong. † She shows us that our â€Å"moral codes† are often subjective and fallacious, that we rationalize and justify our actions to suit our ulterior motives, and our only true morality is â€Å"our loyalty to those we love. † It is this â€Å"loyalty to those we love† that forms our families, then our cities, our states, our countries and ultimately our global community. Without these â€Å"moral codes,† social order would break down into chaos and anarchy.

Globalization in the Music industry Essay

The music industry has been around for over two centuries (PBS). Its volatility can be measured by its ability to shift and change according to its time period, the technologies that arise through the ages and the public’s shift in musical taste. The music industry is comprised of many different components, organizations and individuals that operate within it. Some of these components include the artists who compose the music themselves, the producers that engineer the sounds created by the artists, the companies that handle distribution and promotion of the recorded music, the broadcasters of the music such as radio stations, and professionals who assist the artists to further and better their livelihoods, such as lawyers and managers. All of these components work in cohesion to compose what is the larger industry of music. In order to fully understand how the music industry has survived and changed in the face of obstacles, one must look at its short history. The music industry only really started to emerge in the 19th century when sheet music began to be printed and distributed. People did not listen to recorded music until 1877 when Thomas Edison invented the original phonograph, so instead they would buy sheet music and play the music for themselves. Over the next century technologies were invented that streamlined the recording and listening of music such as creation of records, jukeboxes and the household radio. Mass production techniques were invented at the turn of the century that allowed music listening to become a regular past time, which propelled the profits of the music industry. Household music listening soon became adopted worldwide and thus shaped the industry that we know today. Globalization has both benefited and plagued the modern music industry. It has allowed for the worldwide spread of music globally through technological breakthroughs such as radio and more modern technologies such as digital distribution. Contrary to this, these modern technologies have also led to some of the greatest downfalls of the music industry, almost crippling it permanently. Recording labels have been forced  to completely remodel they’re respective business models in order to adapt to the advent of the digital music era. The sector has benefited from globalization in more than one way. For instance, these days, it is so easy to find share and listen to music, anyone with a computer can have access to listen and buy music. Also because of the rise of the Internet, artists aren’t confined to national boundaries. Music these days transcends borders (Bloomberg). In the case of Justin Bieber, a Canadian whose music is recognized and accepted widely by the youth of the world, has fans spreading continents all because listening to his music just requires looking up a song name on Youtube. The rise of digital technology and the Internet allows for the industry to bring together the world by finding communalities in musical taste with mass positive reception for an artist and the music he or she creates. No matter if a person is from Egypt or Tha iland, that person can access and enjoy the music of any artist he or she desires. Although the music industry has benefitted from globalization, most of its pitfalls have arisen from the same source that is globalization. The rise of digital technology and the Internet has bankrupt many of the music industries biggest names. A prime example of this is court ordered liquidation of Richard Branson’s 26 Virgin Megastores closings in France due to the rise of online music retailing such as Apple’s Itunes music store, which led to Virgin France’s bankruptcy in 2013 (BBC). Another fatal blow to the music industries crippled foundation was the rise of online piracy. As easy as it is to go online and buy or stream music, it is just as easy to steal it. There are thousands of websites dedicated to music piracy. Although music piracy has been on the decline in the past couple years, still about 11 percent of people using the Internet admit to downloading music illegally (Bloomberg). Over the past decade, the use of CDs has been replaced with online streaming and retailing. This has eliminated much of the record companies revenues as they were used to making most of their profit off of distribution and promotion of physical copies of artists albums (Niemen). This has caused for a major shift and remodeling of major players in the music industries business models. Companies such Sony, Warner Music Group and Universal Music Group have started to completely rethink the way they conduct business (Forbes). In the past record labels were not only responsible for production, distribution and promotion of an artist and  his/her music, but they also acted as a bank (Forbes), funding the artists tours and recording sessions. Recently, these music giants have been moving towards becoming more of a modular network organization. What this means is that they are less occupied with the nitty gritty, and more focused on what they do best which is distribution and promotion. Th is also allows for more freedom of creativity for the artist as well as fairer split of profits (Forbes). This adaption of new business models clearly shows the versatility of the music industry in adapting to new times and technologies. One can only speculate the future of the music industry. As aforementioned, the music industry is in constant flux, changing shape and adapting to new trends and innovations. If the music industry can survive the blows dealt by the rise of the digital era, than in my opinion, it can withstand whatever test time delivers. Hopefully, as the future of music and globalization proceeds, we will see a convergence between the music industry, artists and consumers that will benefit all parties. Globalization has the power to ruin industries or propel them to heights unseen. In the case of the music industry, although it has been affected negatively in the past, recent data shows that for the first time in years, the music industry has seen growth due to globalization and the widespread popularity of the artist Adele (Bloomberg). This proves that something positive can be found in every negative experience, especially in regards to globalization and the music industry. Sources: Lin, Cheng-Yi (2014). The Evolution of Taipei’s Music Industry: Cluster and Network Dynamics in the Innovation Practices of the Music Industry. Vol. 51 Issue 2, p335-354. Percival, J. Mark (2011). Music Radio and the Record Industry: Songs, Sounds, and Power. Popular Music & Society. Vol. 34 Issue 4, p455-473. 19p. GÃÅ"NDÃÅ"Z, UÄŸur (2012). Digital Music Format Mp3 as a New Communications Technology and the Future of the Music Industry. Scientific Journal of Humanistic Studies. Vol. 4 Issue 7, p202-207. Ian Ginsberg. (2010). Music Lessons Lessons Inform Photojournalism’s Future. â€Å"The record business died as the digital music business was born. Photojournalism finds itself at a similar juncture now.† Retrieved from http://www.nieman.harvard.edu/reports/article/102116/Music-Lessons-Inform-Photojournalisms-Future.aspx Schweizer, Kristen (2013). Music Industry Grows First Time in a Decade on Digital Adele. Retrieved from http://www.bloomberg.com/news/2013-02-26/digital-music-with-adele-helps-record-industry-return-to-growth.html Plà ¡cido Domingo (2012). Digital Music Report 2012. A digital world that rewards artists and creators. Retrieved from http://www.ifpi.org/content/library/DMR2012.pdf Plummer, Robert (2013). French Mourn Virgins â€Å"Funeral March.† Retrieved from http://www.bbc.com/news/business-20944909 Neilsen Soundscan (2011) The Nielsen Company & Billboard’s 2011 Music Industry Report. Retrieved from http://www.businesswire.com/news/home/20120105005547/en/Nielsen-Company-Billboard%E2%80%99s-2011-Music-Industry-Report#.Ux6BImTwLzQ Taintor, Callie (2004) Chronology: Technology and the Music Industry. â€Å"An examination of some of the technological milestones of recorded music.† Retrieved from http://www.pbs.org/wgbh/pages/frontline/shows/music/inside/cron.html Owsinski, Bobby (2014). 50 Cent’s The Latest To Exploit The Music Industry’s Newest Business Model. Retrieved from http://www.forbes.com/sites/bobbyowsinski/2014/03/04/50-cent-the-latest-to-exploit-the-music-industrys-newest-business-model/

Innovations management in organizations.Eastman Kodak Company Assignment

Innovations management in organizations.Eastman Kodak Company - Assignment Example Today, organizations perform in very dynamic environments. For example, technology keep on changings, new risks keep on emerging, and competition keep increasing as new players join the industry in which these organizations operate among others In order that organizations keep up with these changes, innovative problem solving techniques are required; otherwise organizations which do not embrace keeping up with these changes risk being edged out of competition by their rivals (Dooley & Lupton 2005). Amongst the worst challenges that organizations are faced with today is keeping up with technological changes (Dooley & Lupton 2005). Change in technology (both technologies required for running activities of organization or their products) has been so dynamic that organizations or companies which do not keep up with these changes may not be able to compete since their products or operations may be rendered obsolete (Dooley & Lupton 2005). For example, everything today is shifting from ana logue technologies to digital technologies which are considered more convenient in terms of cost, efficiency and speed (Harmancioglu et al. 2007). Just to mention a few products or industries which have been tremendously affected by the technology changes: cameras (digital cameras seem to be replacing traditional film cameras), TV (digital transmission is replacing the traditional analogue transmission), and phones (emergence of mobile phones have replaced the traditional telephone booths) among others. It has also been noted that some organizations are more innovative than others, and are likely to embrace technology than others. While their counterparts tend to keep their status quo of maintaining their star products or services, these companies keep examining the environments in which they operate so to identify likely change that may take place in future that has the capability of altering the environments in which these organizations operate. This paper, therefore, aims at exam ining how organization leadership and culture process influence the success of innovation. The paper will also explain why it is hard for an organization to replicate success of other organizations, and why organizations that embrace innovation are different from those that do not embrace technological change. These explanations will be supported by giving real world examples. The difference between these organizations Normally change cannot be managed, all organizations can do is going ahead of change, and it is those who lead change that are able to survive in the dynamics of technological environment. Therefore, organization managements should ensure that their organization go ahead of technological change and innovations. It is the role of the management to embrace change in their organizations, therefore, the difference between organizations that embrace technological innovation change and those that do not embrace these technological changes is that management of the former is more change focused, while management of the latter is more focused on maintaining status quo other than exploring new ways of doing things. Role of leadership, culture and process in the success of innovation Just as mentioned in the previous paragraph, it is the role of organizations leaders to enhance and embrace innovations within the management systems of organizations; it is them who are make policies that govern organizations, and therefore, have powers of developing and enhancing various cultures, including cultures of change and innovations within organizations. Therefore, the management of organizations which do not embrace the technological innovations and changes normally develops strategies of maintaining the market share of their traditional products (Laureate Education 2011). The management of organizations which embrace technological innovations, on the other hand, normally develops

Project finance and risk management Research Proposal

Project finance and risk management - Research Proposal Example In this case, the payment of the loans comes from the organization, backed by the organization’s entire balance sheet, as opposed from the revenues of the projects. Similarly, the lenders consider the strength of the balance sheet of the organization financing the project as a prerequisite for lending. The nature of financing projects is quite dynamic considering the fact that projects can be large or small and can be public or private projects. Despite the enormous benefits that come with project finance, it is vital to note that these projects do carry with themselves many risks, some of which may have far-reaching implications. In essence, special project vehicle (SPV) undertakes projects in project finance because the projects are off-balance sheet transactions. However, project managers have discovered the best way to counter the challenge through effective allocation of risks hence improving the performance of project financed by different companies. In fact, this projec t financing and risk management go hand in hand, as the former needs the latter in order to ensure efficient project financing and achievement of the project objectives. ... In this case, a number of risks ranging from political risks to feasibility risk and therefore this paper will take a close look at how to manage project related risks in the course of financing challenging projects. This will be especially significant because for every project being finance, there is a risk associated with the implementation of the project although the risks could be managed through proper mechanisms and expertise. Keywords: Risk allocation; project finance; Risk Management 2.0 Justification of the proposed research Undoubtedly, many of the successful projects receive their fiances from the dedicated corporates and non-governmental organizations depending on the nature and complexity of such projects. In this case, project financing may encompass the creation of a project that is independent and receives its due equity from one or more of the sponsoring entities with a view of making maximum investment in capital assets (Esty 2004, pp. 2013-224). More often than not , project financing involves large projects that cut across nations although some of the companies involved may finance projects on a small-scale basis. Indeed, project financing is the development model for the 21st century given that during the year 2001 alone, capital investments worth $ 200 billion were financed by various project companies across the globe. With an annual growth rate of 20 %, such projects have seen nations achieve unprecedented economic development rates amid domestic challenges (Kleimeier and Versteeg 2010. pp. 49-59). Although project finance works well in areas that are less prone to risks, it is obvious that the presence of risks in any project accentuates the significance of such projects. This means that project fiance

Free Speech Term Paper Example | Topics and Well Written Essays - 1250 words

Free Speech - Term Paper Example sidered as spreading hate and ridiculing the homosexuals, this decision was based on the isolation of specific content from each of the flyers that were distributed. The tribunal then charged Mr.Whattcott and the Christian truth activists for distribution of the flyers and also because this promoted hatred against homosexuals. It was also decided that Mr. Whatcott will pay $2,500 to one of the complainant and $5,000 to the rest of the three (Canlii.org). However, when the case was appealed again, it was over turned in the year 2010 because it was decided that most of the contents of the flyers were within the constitution and that although it did break the laws of free speech and religion, but it was within the limits of the constitution. According to the court, the two anti-gay flyers were actually a representation of the hate speech and hence it reestablished the Saskatcewan’s tribunal finding and the fines that were decided by the court previously. However, the court decided that the other two flyers did not contain any expressions or speech that could expose or hurt the homosexuals (CBC News Canada). This case serves as one of the few examples that help differentiate between the thin line that exists between freedom of speech and hate crime. The decision made by the Supreme Court was actually justified and correct as the act lies in accordance with Canada’s hate crime law. Talking about the hate crime, According to the criminal code of Canada, hate crime is any act that inflicts harm, terror or threatens a group of people who practice a certain religion or follow certain beliefs or customs. Hate crime law is generally used when the victims are subjected to violence because of who they are and this may include any acts of physical or mental harassment or the application of physical force or threat to that specific group of people, an individual or even a property (CBC News Canada). The section 14(1)b of Saskatchewan human rights code also states that no

Artist Report Paper Research Example | Topics and Well Written Essays - 1500 words

Artist Report - Research Paper Example Approaching Noise is done in oil upon a 40 x 34 inch wood panel. The woman in the painting is a brunette with her hair pulled back into a bun. The light skinned model has her arms crossed over her chest to prevent the olive green military style shirt from falling down. She is in a subtle, serene mood as she looks towards the ground in wonderment. The model is standing in front of a whitewashed grey wall with letting and numbers upon the wall behind her. The light that falls upon the model comes from the upper right, in front of the model. The hues used in the painting show the realism that the viewer seems to be immersed in when looking at the painting. The realism shown by Kassan in this painting has a photorealistic quality to it. One could almost reach out and touch the model as though she was standing right in front of the viewer. The realism also allows us to interpret that her skin is soft and looks to be in her mid 20s wearing pink nail polish. Also, the gradation of the painting seems subtle and continuous like a person would see in real life and stark and in contrast in the same way as though a person were blocking the light from another source. There are two places in the painting that seem to flow away from the focal point of her face. Her eyes seem to bring the viewer to follower what she is looking at by going towards the bottom of the painting. Furthermore, you can also follow the flow of her hair as you see the strands of hair pulled back into the bun atop the back of her head. He uses the asymmetrical balance of the human body and draws upon the fact that not all painting has to be symmetrically balanced to be a great work of art. The words on the wall to her right seem to balance out the space taken up by the model on the left side of the painting. Approaching Noise allows the viewer to feel as though they are standing in the studio with Kassan as he is working with his subject on this particular painting with the amount of time

Psychology Topic is Genes and aging and Gottlieb contribution to this Essay

Psychology Topic is Genes and aging and Gottlieb contribution to this - Essay Example The process of aging has engaged the attention of people from time immemorial. People in the past generally did not include as a scholastic subject of inquiry. It was so obvious a facet of life that in the past people generally accepted it as a reality with which they have to cope up with. However, the desire to prolong life was very popular and a marketable thing, many charlatans and quakes occupied the field and various potions for prolonging life appeared in the market. Initially serious scientists did not venture to study the phenomenon for fear they will be mistaken to be a pseudo scholar. With the microscopic study of cell and genetics growing as an important subject aided by technology, aging also came to be studied. The role of genes in aging has been a forgone conclusion. But the insight into the importance of environment- interface in shedding light on development is one of the major thrust areas of Gottlieb's study. The present study is an examination of his contribution t o the process aging. Aging is the major hurdle to the quality of human life in affluent communities. The study of senescence can prolong human life, preserve health, prevent age related diseases and even might cure aging. Aging is assuming the dimension of a worldwide social and economic problem. However, some scientists feel this area should get more priority and funding (Miller, 2005). The study of senescence, while it is part of the global quest to address this problem facing humanity, is also a dream of achieving the experience of an infinite universe. What is aging Aging came under the purview of scientific enquiry only in the early part of the present century. We are all aware of aging in humans from our earliest years, through normal, daily contacts with family members, neighbors, and others who have reached an advanced age. Perhaps because aging seems such an intuitively obvious phenomenon, it was quite late in becoming an object of formal study (Clark, 2002, p. 3) However there has been, over the centuries, an ardent attempt to unearth the magic elixir that would prolong life or even confer immortality. The process of aging was so obviously present in the conscious mind that no one thought it worth the trouble to go in depth to study what aging is. Aging has many external visible signs, as well as the changes in the mind and in the molecular level. The external changes also psychologically impact the person as he or she becomes aware that time is approaching for saying adieu. There are also degenerative changes associated with age, which are the results of alterations in the cardiovascular system. Humans also are under higher risk from external sources due to the slow collapse of the autoimmune system of the body. The reproductive capacity also diminishes along with aging and in the female this process sets in faster than in the male. In fact there are a spectrum of changes associated with old age but there is no uniform pattern of occurrence for all humans nor is there any fixed time when aging sets in all people. Some people are old at forty but there are septuagenarians who are fit as a fiddle. In some, mental faculties are impaired with age while bodies remain

Change in the Chinese Economy Essay Example | Topics and Well Written Essays - 1250 words

Change in the Chinese Economy - Essay Example The recent changes prohibit a third party to offer products in China for sale without the due permission of the patent holder. The people associated with the third party should not assume that they can go ahead and sell their products in China. Before this law was introduced, the companies' in the country were allowed to sell products manufactured in the other countries. This paper will examine the changes in the Chinese Economy over the past 6-7 years. A comprehensive analysis of the position of Chinese Economy will also be provided in this paper. The Chinese economy has witnessed tremendous boom because of the rise of 3 third party logistics in the country. There are several 3PL companies in China that are making huge profits operating in 3PL. Foreign 3PL companies have also started entering China to capture the share of profit and the same is boosting the economy of China for the last 6-7 years. The important features of 3PL industry will be discussed in the following part of the paper. Outsourcing enables companies to source in China without having their own warehouse and staff in China at very reasonable prices. Outsourcing gives access to better human resources, which are suitable for a given country in a given situation. For instance, even the people working in a BPO in the US would easily charge at least double the amount when compared to the people working in various Asian countries and this is exactly why the US companies have opened up various BPOs in Asian countries. Less Upfront Cost: Outsourcing enables a company to access superior technology without paying hefty amounts upfront. Though, this is not exactly the case with 3PL companies. But still, logistics outsourcing is preferred by countless companies worldwide and it has many advantages that we will account for in the upcoming pages. Innovation: Outsourcing is also preferred because it is an innovative concept and it is capable of innovation. Various people employed, bring in a huge pool of talent and the same talent produces innovation. Innovation is the need of the hour and no company can sustain without innovating something that will become popular with the customers. 3PL has been a very pivotal factor in the growth of the Chinese Economy other factors will be discussed in the following parts of the paper. Expansion of the Chinese Economy over the Last 6 Years The Chinese economy has become a force to reckon with over the last 5-6 years, it is only behind the US economy when measure in terms of Purchasing Power Parity. The economy is the third largest in the world if it is measured using the exchange-rate system. China holds the record for being the fastest growing economy over the last 5-6 years. The country has eradicated poverty completely but there is another side of this aspect, the country is witnessing inequalities in income of individuals. China's population is arguably its biggest asset; the manpower and cheap labor are the two most instrumental aspects that have made the Chinese economy what it is today. "China's economy is huge and expanding rapidly. In the last 30 years the rate of Chinese economic growth has been almost miraculous, averaging 8% growth in Gross Domestic Product (GDP) per annum. The economy has grown more than 10

Insert Abbreviated Title Essay Example for Free

Insert Abbreviated Title Essay It’s a very baffling thing that as humanity and technology has progressed, the rate at which the different diseases have emerged and multiplied has been almost directly proportional. If we look back at the last few generations we find that the diseases that were prevalent then were very different from ours. There was no such thing as the bird flu or the swine flu back then, it was just normal everyday flu which people would get and then recover from in a bit. But today the type of diseases that can be found are numerous with many direct and indirect costs (which are both financial and non financial) linked to them. The Costs The costs that one faces are numerous and it’s not just the person who is afflicted with the illness but all the people around them and the society suffer to some degree or another. The costs are both financial and nonfinancial. The costs of the treatment, the testing, the commuting from the house to the hospital or to wherever the testing and examinations might have to take place, the medication all fall under the heading of direct financial costs related to the disease. The non direct financial costs that are related are time spent away from work, the number of sick leaves one can avail and most of these are without pays. The non direct financial costs also put a strain on the workplace as deadlines are not met and other workers have to try and meet the demands of the employers, creating stress for them which could lead to them falling ill or having high blood pressure or asthma attacks. Ill-Health Costs Introduction, 2005). Other costs that a person faces are the non financial ones where the inflicted person and family and friends go through much agony, trauma and pain hoping for the ordeal to end soon. The more life threatening or severe a disease the more people are worried, they stop taking care of their health, and are constantly worried and hoping things will improve which they may very easily not. Testing and preventing  It is therefore advisable that a person has regular checkups with a doctor especially when they know there is a family history of some ailment or another within the close family (Early Disease Detection , 2008). This saves one from much pain and trauma later also preparing one mentally for what may come. The biggest advantage is that it reduces financial costs to a minimum preventing the major costs that arise when a disease is diagnosed at a later stage, when it might be even more difficult to beat it at its own game making the person terminally ill. Conclusion The lives of everyone in this world are interconnected and dependent on each other in some way or another. It is therefore important that to go on living healthily we take preventive measures to ensure that we lead a healthy life in a healthy environment. If the machine remains well oiled, it will function properly, if not, it’ll creak and squeak and make the functioning of the rest irregular.

Harold Lasswells Narrative Model

Harold Lasswells Narrative Model What is communication? According to G.G.Brown, it means the transfer of information to one person to another, whether or not it elicits confidence. But the information transferred must be understandable to the receiver. Therefore, in order to communicate, one can use the medium as a channel to pass over a piece of information to another person but whether or not the message gets through perfectly, it will be entirely up to the individuals interpretation. However, Lasswells model does not take the audiences opinion into account. This is one of the many weaknesses of the 64-year-old model. Communication is basically to provide and find information, persuade the readers and express our emotions. A model can help create theories and indicate the relationships between the elements. Lasswell came up with the model initially to answer five very important questions to ensure a smooth communication process which consists of who(Communicator), what(Message), which(Medium), whom(Receiver), and what effect(Effect). Lasswell was inspired by the earliest mass communication model that the famous philosopher, Aristotle initiated and tried to improve the model by adding the channel as a medium to replace occasion which was previously proposed by Aristotle. Aristotle mainly emphasized on the role of the audience in his model and public speaking rather than interpersonal communication. As for the occasion model, Aristotle suggested constructing speech for the different types of audiences at different occasion to obtain the response that are desired. The act of constructing the speech is done by the speaker. For every public speaking session, the speaker must be fully prepared by making sure he understands what the audiences interests are before speaking. What the speaker says should have some sort of an influence to the audience and try to convince the audience with his brilliant ideas. Thus, Lasswells model concentrates more on verbal communication just like Aristotles model. The model involves a speaker who passes on information to an audience through the media such as radio, television, newspaper, magazines, music and many more to successfully deliver the message. A model is usually used to explain the process of mass communication. As for Lasswells model, it is explained in words and not in diagrams. Who: Communicator(Control analysis) The first element of the model is control analysis which involves the communicator to control the messages that are being passed. This is usually the gatekeepers responsibility. In a way, a gatekeeper could be holding too much power as they can choose to hide information that could be important for the public to know but might not be helpful to their personal cause. Only what the media choose to publish is known to the public, thus making it unfair for the other party especially during elections where only those who possess greater political influence can benefit from. This principle is quite similar to the agenda setting theory. No matter how bias the situation may seem, gatekeeping is actually a very necessary tool to both the public and media. With crucial information that the media has, they would be able to educate the public so they would not be ignorant towards their surroundings and starts to be more aware about the current worldwide issues. The media would only broadcast what they think is newsworthy and interesting to attract more readers. Therefore, they tend to neglect the audiences safety and rights to all information. Even so, there are still many factors to be put into consideration before making a decision about what to publish, the gatekeepers actually go through a lot of trouble researching about the owner of the newspaper company, their goals, the effect they would have to face for posting about certain issues, their political commitments and many more. The communicators might seem irresponsible and selfish with their business decisions but that is just the way certain gatekeepers work. Says what: Message(Content analysis) The message is the subject of the content analysis. It could be a piece of news about the recent natural disaster in Japan or even gossips about whether or not Britney Spears is pregnant. Lasswell was particularly worried about what the mass medias response towards the message that was portrayed by the media. This led to the introduction to a new study called content research. Questions of representation were usually asked, it is especially to make sure the women, and the blacks were properly represented on television or tabloids. Other than that, Lasswell studied the role of society in the movies closely for collecting statistics purposes. In Lasswells research would involve calculating the number of occasions of a specific representation and evaluate the results with an objective measure like an official statistics to obtain accurate results. The formula can also be applied to our everyday life and improve our interpersonal skills without having to consciously think too much about our messages. From the clothes you wear to how you smell, your appearance can tell people a lot about your personality, taste in music and messages about you. All these analysis would be useful to the media to construct a message accordingly. The media must also be very careful with the content of the message so that the public would not be offended or angry. In which channel: Medium(Media analysis) The third element would be the medium that is also known as the media analysis. In media analysis, there can be more than one channel to pass on a message. These channels are researched in media analysis. Lasswell introduced an efficient way to study the mass media known as media content analysis(1927). It was previously introduced to study propaganda but it started being used to study the roles of communication that was becoming more and more prominent in movies during the 1920s and 1930s. Media content analysis then grew to be the main research method in social sciences and mass communication studies with the appearance of television in the 1950s(Barton 2012). It is also used to research about representations of racism, women and violence in movies, television programmes, newspapers and magazines. To whom: Receiver(Audience analysis) As the medias responsibility is to construct and influence the audiences, the receiver plays a very important role in Lasswells model. The first theory about the media and audiences is called the stimulus-response(SR) that was originated from behaviourism. The audience are perceived to be fickle-minded, easily influenced and needs to be protected. The vulnerability image of the audience that was created limits their use of media and content. This is a result of the communicator and mediums doing and not the other way around. Lasswell often pay attention to the media, their content and audience and the effects of the media on the audience(Nielson, 2004 ) Lasswell considered his audience to be the passive type that does not like to interact with others, and not likely to give in to the pressure just to fit into society. The second theory is functionalism that was originated from media sociology. Functionalism is the opposite of the stimulus-response theory as the audience are believed to be independent and capable of making their own decisions. The audiences here are of mixed culture and democratic so they are more laid-back about media content and use. In functionalism, in order to fulfil their sociological and psychological needs, they use media content. The relationship between the media and the audience are closely related as the media affects the audiences behaviour. This theory explains how important the mass media is to the society. It brings order, stability, change, culture and values and many more. Without functionalism, the society would not know how to behave or speak appropriately. With what effect(Effect analysis) According to Lasswell, there must be an effect at the end of every communication process. This is because then this will determine on whether or not the communicator was able to change or motivate the audiences attitude. The audiences reaction to the news would determine how successful the communication process was. The more believable the source is, the more likely it will influence the audience. The way the model works In 1948, Lasswell introduced an interpretation of the media on a macro-sociological level. Functionalism in media sociology explains social practices and institutions in terms of the needs of society and individuals. Specializations that carry on certain functions are : 1) The surveillance of the environment; 2) the correlation of the parts of society in responding to the environment; 3) the transmission of the social heritage from one generation to the next. The mass media do not just supply facts and data, they provide information on the ultimate meaning and significance of events. They act to confer legitimacy to advocacy groups and leaders of social movements, whose success is dependant on attaining wide mainstream attention. The media serves as a catalyst to accelerate issues onto public agenda. Lasswell theorized that society and the media were dependant on each other. He said that society used media as a surveillance tool to monitor salient information around their environment. Surveillance of the environment is the collection and distribution of information by the media. This function is easily seen on news programs and newspapers. For example, As mass media report illegal actions going in the society, it awakes the awareness of people. Also, the information is distributed to everyone in the society, stimulating equalitarianism. However, it has side effects. Reporting the international events of certain countries may endanger the political stability of these countries and may even stimulate over-tension among society. Lasswell states that When the stimuli receiving and disseminating patterns operate smoothly, the several parts of the animal act in concert in reference to the enviroment (feeding, fleeing, attacking). Correlation of parts of society refers to the interpretive or analytical activities of the media. It functions to interpret issues and give solutions to the public, which solutions eventually affects the formation of the publics attitudes. Columns, editorial articles, criticisms and explanations are examples. The correlation function differentiates itself from surveillance function by presenting subjectivity while the Surveillance Function supposedly maintains objectivity. Correlation function acts during editing process, deciding what kind of news to choose, which news to grant more importance, and where to emphasize. The side effects of this function is that it can announce news without fairness. The newspapers may exclude important social problems. This brings limited interpretation of information and blocks the development of social revolution. This also drops the individuals ability of self-interpreting and self-criticizing. Transmission of the social heritage refers to the ability of the media to communicate values, norms, and styles across time and between groups. It is the function that spreads the common norms and values among the public. This action is called socialization, which is helpful for the unification of a country. As citizens are being touched with common norms and new cultural traditions of others, they can grow social adaptation abilities. The function is also effective as an educational tool by providing valuable information to the mass, or as a regulation tool by preventing the exposure of information on crime suspects. People who arrive in foreign countries can get familiar with the new culture by this function. However, getting only the structured forms of information and the uniformed cultures may lowered cultural variability and human creativity. Pros and cons Pros: As for the benefits of the narrative model, it is said to be a very straightforward and simple model to understand that can be applied to many communication theories. Lasswell was one of the first few who came up with the concept and it is still being used up till today. Cons: The model only assumes that there would be an effect at the end but does not worry about whether the effect is good or bad. What the audience think about the message was not taken into account so the improvement of the communication process can be non-existent. Its strengths and weaknesses are also due to it being a linear model. As easy as it looks, it does not allow for a two-way communication where the speaker can get an immediate feedback. The audience can lose interest pretty quickly if they have to pay attention to the speaker for a very long time especially if the speaker has a monotone voice and is talking about a boring topic. Those who has a very short attention span and is not a good listener would face that kind of problem. Other than that, Lasswell did not think about the surroundings where the audience might be facing. For instance, audience that listens to the radio for daily news can face external distractions in the car such as thunder, sound of the car horn, or the sound from the car engine. These are noises that need to be addressed in order to obtain the accurate statistics of people who gave a desired response. There are also cases of those who might have a neutral stand on current issues, thus not producing an effect. A lot of assumptions are made without verifying the results first that the results obtained might not be very reliable. Therefore the model is not very realistic as it does not fully represent the physical reality. Application in real life According to Lasswell, there are usually three types of communicators in each society, the first type are those who are involved in politics such as the foreign media and diplomats while those who compare the states reactions to the society are called journalists. The last type of communicator are called the educators, these are the people that pass on information from the older generation to the younger generation(Lasswell 1948). Targeting a group makes it easier for the media to specialize through advertising. It saves them money and time to figure what the latest trend is through surveys in order to maximise their profits. With the advancement of technology nowadays, there are more satellite broadcast and Internet channels available unlike during Lasswells time where there were only a few types of media channels like television and radio. The public can easily obtain information that may seem limited on television from the Internet so it is now harder for the gatekeeper to enforce the agenda setting theory on the public and manipulate the audiences mind. This is because the group of audiences have become more separated due to their personal preference to the type of media they choose to pay attention to. The killings at the Batman premier in Colorado can be used as an example for the narrative model. The communicator would be the media, the message would be the information about the number of people who die d during the shooting, the medium would be Huffington Post(online newspaper), the receiver would be the public and lastly the effect would be feelings of shock by the people about the incident. Lasswells narrative model is one of the earliest forms of communication models and also the simplest. Lasswells model could also be applied to all manner of other forms of communication, from telephone calls to web conversations, etc. It serves as the basis of the development of future communication models. A lot of improvements can be made to this model. Firstly, it should take into account the way audiences may perceive and interpret the message that is being relayed to them, it should also take into account the difference in circumstances that the communication is taking place, and whether or not the message reaches the receiver at all, why would the audience want to seek out that particular information? It should also make references to concepts like context, noise (whether the message is received accurately and clearly and can be fully interpreted by the receiver), purpose and feedback.

The Wife Of Bath English Literature Essay

The Wife Of Bath English Literature Essay Writer Geoffrey Chaucer was born in 1342, when he was born is still unknown. Chaucer became a knight and a member of the kings home. Chaucer ran many errands all around Europe. With increased knowledge of society, it paved the way for The Canterbury Tales. Chaucer died in October 1400 and buried in Westminster Abbey. Chaucer was one of the first to have gathered in what is now known as the Poets Corner in Westminster Abbey. The Canterbury Tales were written sometime between 1387 and 1400. Coming from all walks of life; It is a tale of a numerous of people traveling together, portrayed as pilgrims, to Canterbury. The Canterbury tales were incomplete even the completed tales were not revised. There is also no order to how the tales are to be told. As the printing press had not been invented, The Canterbury Tales have been read as hand written manuscripts. The Wife Of Bath She initiates her story by telling of her experiences she has had in her life. The Wife of Bath begins her story by making it clear that she has always followed the rules of experience. The wife could easily be classified as an expert (for lack of better words); because she has had five husbands consecutively, she surely has had enough experience to classify her as such. To her there is nothing out of the ordinary with having had five significant others and has a very hard time understanding Jesus rebuke to the woman at the well. In her own defense, the Wife refers to King Solomon, who himself had many wives, and as for the admonishment of St. Paul that it is better to be married than to burn in sin. Sexual organs are created for their normal functions and for the purposes of pleasure. And unlike many senile women, she has always been one to constantly have sex on her mindà ¢Ã¢â€š ¬Ã‚ ¦naturally. She then goes on to tell of her past husbands and allows for how she was able to reign supreme when it came to each of them. Unfortunately, when she does thisà ¢Ã¢â€š ¬Ã‚ ¦he dies. She then goes on to tell of how she gained control over husband number five. At the funeral of husband number 4, she carried a lot of lust for a young man by the name of Jankyn, for which she had already had eyes on prior. They dated for a short period, she and Jankyn were married quickly as well, even considering the fact that she was much older than he. At the end of the honeymoon, she was taken back when she found out that Jankyn spent a lot his time reading, specifically from a set that downed on women. One night in particular, from this collection, he began to read aloud, He was reading the story of Eve, he read about all that he could find, like unfaithful women, murderesses, prostitutes, and so on, the wife of bath was unable to tolerate these stories for long, before she became enraged, took the book and hit Jankyn with it. She hit him so hard that he fell from being unbalanced, and into the fire he went. As he hopped up and he lunged at her, she fell to the floor from the strength of his hit, when she hit the ground she acted as though she were dead. When jankyn leaned over her, to examine the damage, she hit him one more time and once again acted as though she were dead. Infuriated, he promised her anything if she just would live, and this is how she was able to have control over husband number five. From that very moment until the day he passed away, she was the best possible wife she could be to him. Her story, restates her belief that a successful marriage is one in which the wife is to have complete control. In King Arthurs court there was a handsome yet deceitful young knight, who comes to and rapes a beautiful young woman. People are very angered at the young knights actions and vowed for the justice of the young lady. The law states, is written and demands that the perpetrator has his head cut off. For their own reasons the queen herself and some other maidens of the court pleaded for permission to have control over the fate of the knight. Inevitably, the queen gives the knight one year to figure out what the average womans wildest desires are. The time passes very quickly. The knight comes back to the court already knowing that he is going to die, He then sees a group of young maidens mingling around. As he gets closer to them, the run in fear, the only one left is an old angry woman, and she comes to him and is wondering what it is that he wants. The knight goes on to tell of his endeavors to her, and the woman guarantees him the exact response, he should give to the court, in return, he must do what she asks she saved his life. He obliges, and later, the queen asks him to respond, he comes forward with the right answer on that of what womens wildest desires are; it beingà ¢Ã¢â€š ¬Ã‚ ¦total control over their husbands. Because the old woman ended up giving the knight the right answer, she insists that she be his lover and his friend. The knight, hesitantly, obliges. The wedding night approaches, and he pretty much ignores his new wife, who is right next to him. He eventually lets her know that her age, as well as some of her other physical attributes disgust him. She reminds him simply that love is not pinpointed on how one looks but of true and honest understanding. The old woman tells him that her looks can be seen as an only a physical assetperiod. Now if she were good looking, plenty of men would be after her; with her existing state, just as she is, he can rest on the fact that he has an all-around good partner. The Wifes tale is quite interesting in the fact that it is lengthier than the actual story itself. The Wife of Bath uses the story to define knowledge about experience versus authority as well as igniting the points that she wishes to reveal in her story: What women really want is total control over their significant other. Due to the fact that she has had five husbands one right after the other, she feels as though when she talks it is with authority from all of the experience. In the prologue, she tells how she gained control over them all. In the church, antifeminism was a large contributing factor. Women were portrayed as almost like demons; they were very sexual, greedy, clingy, and a nagging pain and they were looked down on by the spiritual church. Women were unable to participate in church functions by any means. Also multiple marriages were considered suspicious. The Wife of Bath carefully remembers the words of the lord as stated in his written scripture. With her knowledge of his word, it shows that she is not a mindless human being. Furthermore, in Chaucers time, if you still had your virginity, you were highly thought of, especially when it comes to the church. Saints were glorified because they would rather be dead then to their lose virginity, or some suffered badly to keep their virginity later being considered as martyrs and at that point were blessed. After the Wife of Bath reserves from the word of the lord, she appears to gain common senseà ¢Ã¢â€š ¬Ã‚ ¦asking if all were virgins, she questions, then who would give birth to more virgins? This allows for the sexual organs to be used for pleasure as well as for the birthing end of it: She admits that she is full of life that enjoys sex and by no means is ashamed by it. The interesting part of story of the Wife of Bath is by far her argument on traditions or with the church, but the portrayal a living being. The wife is a woman of great emotion, and character. Preceding her five husbands and all of her hardships she has unfortunately lost her looks and her young nature yet, still she still lives on. With ease, he now has the ability to thoroughly enjoy her life. All throughout the Wifes tale, values and headships, are taken back or dismissed. During the start of the tale, King Arthur bows down to the ruling of Guinevere .Alternatively the women, over the men, are judges; and the knowledge of the books and the scriptures signifies a lot of experience. The knight, who was the rapist that jeopardized the purity of a young womans virginity, is saved by another woman, an old ugly woman at that. Lastly, the old woman gives the knight a choice, yet both choices are unbearable. When he allows her make the choice, he inevitably abandons his own freedom in courtesy of the womans power. Work Cited Reynolds, George Fullmer. The Staging of Elizabethan Plays at the Red Bull Theater 1605-1625. New York: Modern Language Association, 1940. Print. Chaucer, Geoffrey. The Wife of Baths Tale. Canterbury Tales. The Norton Anthology of English Literature: The Major Authors. Ed. Stephen Greenblatt. 8th ed. New York: Norton, 2006. 226-234. http://www.cliffsnotes.com/study_guide/literature/canterbury-tales/geoffrey-chaucer-biography.html

Character Brett Ashley in Ernest Hemingway’s The Sun Also Rises Essay

The Character Brett Ashley in Ernest Hemingway’s The Sun Also Rises There is a common perception among casual readers--who hasn't heard it voiced?--that Ernest Hemingway did not respect women. The purpose of this essay is to examine one work in such a way as to challenge these heinous assumptions. Hemingway's persona will be left alone. What will be examined is the role of women, as evidenced by Brett Ashley in The Sun Also Rises, and what, if anything, it reveals in the way of settling this account of Hemingway as misogynist. Brett Ashley enjoys a unique position of power in the novel--in today's vernacular, she "wears the pants" in all her relationships. The feminist perspective, no doubt, will find this true, but rapidly move to the conclusion that Brett Ashley's power over men is Hemingway's means of showing what a bitch she is. I'd like to suggest another possibility. Despite Brett's many faults, she is worth loving, and Jake Barnes does just that. Again, the feminist may say, yes he loves her, but as an idol, a doll, a figure admired from afar, as if eternally suspended on a pedestal. I consent that Jake is guilty of this habit, yet; he is always there for her, no matter the pain it inflicts on his self-worth. At the end of the book, when Jake thinks the coast is clear, and he's gathering himself at San Sabastian after much revelry in Pamplona, Brett sends a telegram: COULD YOU COME TO HOTEL MONTANA MADRID AM RATHER IN TROUBLE BRETT. (238) Brett has ditched her intended husband Michael, her lover Robert Cohn, and her number one supporter Jake Barnes, in order to do what? To satisfy herself with a nineteen year old hero of the bull ring. To assuage her fears of aging. For wasn't it pleasant dear, to be ... ...it, and respond accordingly. Hemingway's gift of these characters says to the reader, "Embrace life." That message comes from one who loves people, even when they insist on games and head-trips and violence. Jake is a hero because he grabs the bull by the horns (I know, I know). He could be a pitiful mess of a man, but he is not. He is chivalrous, smart, and well-adjusted. He hurts, and has second thoughts, but he is quick to joke about it. The characters in the novel that show signs of male chauvinism are whipped about by events, and are in no way intended to be admired. Hemingway was no sexist. On the contrary, his work championed the woman's cause, and in Brett Ashley he has given readers a heroine, hell-bent on liberation. Work Cited Hemingway, Ernest. The Sun Also Rises. New York: Charles Scribner's Sons, 1926. Reissued by Collier Books, 1986.

Abduction and Hypothesis Withdrawal in Science Essay examples -- Scien

Abduction and Hypothesis Withdrawal in Science ABSTRACT: This paper introduces an epistemological model of scientific reasoning which can be described in terms of abduction, deduction and induction. The aim is to emphasize the significance of abduction in order to illustrate the problem-solving process and to propose a unified epistemological model of scientific discovery. The model first describes the different meanings of the word abduction (creative, selective, to the best explanation, visual) in order to clarify their significance for epistemology and artificial intelligence. In different theoretical changes in theoretical systems we witness different kinds of discovery processes operating. Discovery methods are "data-driven," "explanation-driven" (abductive), and "coherence-driven" (formed to overwhelm contradictions). Sometimes there is a mixture of such methods: for example, an hypothesis devoted to overcome a contradiction is found by abduction. Contradiction, far from damaging a system, help to indicate regions in which it can be changed and improved. I will also consider a kind of "weak" hypothesis that is hard to negate and the ways for making it easy. In these cases the subject can "rationally" decide to withdraw his or her hypotheses even in contexts where it is "impossible" to find "explicit" contradictions and anomalies. Here, the use of negation as failure (an interesting technique for negating hypotheses and accessing new ones suggested by artificial intelligence and cognitive scientists) is illuminating I. Abduction and Scientific Discovery Philosophers of science in the twentieth century have traditionally distinguished between the logic of discovery and the logic of justification. Most have conclude... ...s based on set covering model, International Journal on Man-Machine Studies, 19, pp. 443-460. C. Shelley, 1996, Visual abductive reasoning in archaeology, Philosophy of Science, 63(2), pp. 278-301. J. C. Shepherdson, 1984, Negation as failure: a comparison of Clark's completed data base and Reiter's closed world assumption, Journal of Logic Programming, 1(1), 1984, 51-79. ________, 1988, Negation in logic programming, in J. Minker (ed.), Foundations of Deductive Databases, Morgan Kaufmann, Los Altos, CA, pp. 19-88. P. Thagard, 1988, Computational Philosophy of Science, Cambridge, MA, The MIT Press. ________, 1992, Conceptual Revolutions, Princeton, NJ, Princeton University Press. ________ and C. Shelley, 1994, Limitations of current formal models of abductive reasoning, Department of Philosophy, University of Waterloo, Ontario, Canada, forthcoming.

Case Study on Sumitomo Corporation Essay

1.Case Study on Sumitomo Corporation on Derivative Losses and Lesson Learned 1.1Introduction Sumitomo Corporation was top in market in copper business in the world prior to 1996 in term of trading size and it operations. Copper business is part of their portfolio and it was delegated to Yasuo Hamanaka who was the Head of Copper Trading and he was engaged in illegal copper trading and faced extensive losses and massive cover-up. As the result of this loses, he attempted to avoid losses many times. This was against the rules and regulation of the London Metal Exchange (LME). LME created new regulation to prevent the market domination, as the result of this; he faced losses on his operations. There were two malfunctions recorded; he maintained two types of books, one is to showing big profit, and the second one is to keep secrete account, unauthorized trades over 10 years. No one except Hamanaka was not aware of accumulated loss of $ 1800 million. 1.2Background of the Company Sumitomo Corporation is one of the subsidiaries of Sumitomo Group which is one of top 5 â€Å"Sogo Shosha† general trading in Japan. It has 120 overseas branches in 65 countries, and having diversified business of Metal, Mineral Resources, Energy, Chemical & Electronic and Infrastructure. Copper Department is one of the departments in Copper Corporation which is owned Mineral Resources, Energy, Chemical & Electronic Business unit. In 1800s, Sumitomo Corporation was diversified the business into Sumitomo Bank, Sumitomo Metals, and Sumitomo Corporation. In 1980, they obtained strong position & positive reputation in the Copper market. Competition in Copper industry was very high; Copper was traded on LME listed in London and COMEX in USA. Copper was placed 3rd used Metal after Iron & Aluminum. There were two types of market participants i.e. one is supplier who does physical supply, and the second is speculators who arbitrage deal without delivery. Sumitomo was acted as speculator and after acquiring mines in Philippines in 1984, Sumitomo changed from speculator to supplier. After 1988, they made of $3 to 4 million profit and they followed cost leadership strategy which caused huge loss because of having high inventory while declining demand. LME is popular for providing spot and future markets where clearing systems reduce counter party risks. The delivery would be taken place for the authorized warehouses and storage facility. The specification of copper would be included i.e. quality, trading unit, price quotation, trading month, minimum fluctuation, and tick value. The copper contract would meet the following conditions i.e. counter party information is open, and delivery condition is by the party, not LME. Yasuo Hamanaka was the Chief/Head of Copper Corporation. He was committed wrongful Act during the 1985-1996. He was referred as by many Mr. Five percent/Mr. Copper. He traded 0.5 million metric tons per year which was the 5 % of total world demand and having experience of 23 years in copper trading. 1.3Sumitomo Copper Scandals From 1985, Hamanaka lost a total of $1800 million. He executed as many as $20 billion worth of unauthorized trades a year. His main strategy was the â€Å"short squeeze†. The future market was particularly vulnerable to manipulation since the market volume was relatively small. By buying up futures and choosing physical delivery, future seller ended up buying copper in a spot market, which resulted in backwardation: the spot price is higher than the forward price. As far as LME concern, it considers only the inventory in their authorized warehouses. If someone moves away from copper inventory outside of an authorized warehouse, LME inventory appear to decrease and therefore, copper price rise due to a perceived tight supply in the market. Hamanaka implemented such strategy because of all his illegal trades was not booked, but is clear that this was a possible way to induce backwardation. In December of 1991, the LME decidbed to set new regulations that would limit the range of backwardation within 25 pounds to prevent market manipulation. Backwardation shrunk to almost $0 or even negative, thus causing a huge loss in Sumitomo’s portfolio. To recoup the loss, he conducted a Radr transaction in June 1993, but at the end he ended up closing their Radr position and incurred a $1.1 billion loss. Hamanaka tried to recoup the loss by increasing the trade volume and made a contract with Winchester for1 million metric tons over two years at the price of $2,800, however, due to price declines, the loss kept expanding. Hamanaka’s next step was to create an option portfolio named â€Å"Radr† transactions. He made six different transactions in Radr. The counterparty of these transactions was Credit Lyonnais Rouse (â€Å"CLR†, currently Calyon Group). Since the position held by CLR was large and caused backwardation, LME tightened the backwardation limit to $5 in September 8 1993. In addition, LME informed Credit Lyonnais that they were to cancel part of their transactions with Sumitomo on September 17th,, Thus resulting in a $1.16 billion loss for Sumitomo. ïÆ'Ëœ1st: In June 25, 1993, Hamanaka buys call option with an average price of $2,400 and which expires after 2 years. The transaction is totally irregular because the total volume was 1 million metric tons as compared to all LME inventory of 0.5 million. The portfolio could make a profit if the price went up to $2,480. To pay a premium of $69 million, Hamanaka made a 2nd trade. ïÆ'Ëœ2nd: Hamanaka made a short strangle, combination by selling a 0.5 million $2,100 call and $1,900 put option. The portfolio could make a profit if the price remained between $1,900 and $2,140. From this transaction, he got $94 million of premium and paid for the 1st option. With 1st and 2nd strategy, total breakeven was $2,700. ïÆ'Ëœ3rd: Selling future at a price of $2,000 which increased payoff to around $1,900. ïÆ'Ëœ4th: Buying 1.35 million metric tons of $1,750 put, breakeven was $1,580. He predicted that the copper price would go down below $1,600 level. ïÆ'Ëœ5th: Buying 1.35 million metric tons of $1,800 put again, breakeven was changed to $1,680. This portfolio could make a profit slightly if the price went down below $1,700 level. ïÆ'Ëœ6th: Selling 1.2 million metric tons of $1,950 call to get $29 millions of premium. With this transaction, breakeven was changed to $1,680. However, if the copper price exceeded $1,950, Sumitomo suffered a huge loss. 1.4Lesson Learned from Sumitomo Case The Sumitomo Case explains following lessons base on internal control and risk management prospective, and it believed that if controls were in place, losses would have been detected much earlier. (a)Management Level Control: Sumitomo Corporation failed to execute a risk management practices and they believed the expertise and specialized knowledge of Hamanaka. The essence of the problem was unauthorized trading that the culprit undertook to enhance his firm’s profitability and then his own career and pay. Hamanaka tries to cover up the losses through taking more risk that end up with further losses. Setting up corporate discipline and sound Management structure is important to manage the risks. (b)Independent Transaction Monitoring: Sumitomo should create a separate and independent supervisor system within the company hierarchy to avoid these agency issues; specifically the issues between recording and checking procedures. Segregation of duties is important to prevent the malpractices. Middle and bank office should be totally separated from the front office.   (c)Corporate Responsibility: We should also consider corporate responsibility with regard to timely reporting. In the Sumitomo case, the management waited ten days until issuing a press release. Sumitomo needed some time to calculate their losses; they could have avoided additional declines in copper prices that were caused because of the rumors and uncertainty in the market. (d)Government Regulations: The regulatory agency should execute more stringent rules on the derivatives market to avoid price manipulation and impose new regulations on corporate reporting obligations so as to provide investors and other market participants with greater information regarding the organization’s willingness to take risks and capability to manipulate market prices. The official and market pressures of stringent regulation will strengthen the internal auditing and information systems of many firms and provide a check against possible management discretions. 2.Case study on the Orange Country on Derivatives Losses & Lessons Learned The purpose of this case is to explain how a municipal lost $1.6 billion in the financial market. In December 1994 Orange County stunned the market by announcing that its investment pool had suffered a loss of $ 1.6 billion this was the largest loss ever recorded by local government investment pool and led to the bankruptcy of the county shortly thereafter. The loss was the result of unsupervised investment activity of the Bob Citron, the county treasure who was dealing with the $ 7.5 billion portfolio belonging to the county schools, cities, special districts, and county itself. In the tome of fiscal restrains Citron was viewed as a wizard who could painlessly generate greater results to the investors. Citron generate 2% higher than the comparable state pool Figure 01 citron’s track record Citron was able to increase returns on the pool by investing in derivatives securities and leveraging the port folio to the hit. The pool was such demand due to its track record that citron had turn down investments by agencies outside Orange County. Some local schools districts and cities even issued short term taxable notes to the investment in the pool by increasing the leverage even further. For that there was a repeated public warning, which was by notably by John Moorlach, who ran for treasurer in 1994, that the pool was too risky. Unfortunately, he was widely ignored by Citron when he was re elected. The investment strategy worked excellently until 1994, when fed started a series of interest rate hikes that caused severe losses to the pool. Initially it was announced as a paper loss. Shortly thereafter, the county declared bankrupts and decided to liquidate the portfolio. This occurred because citron expect that interest rates would fall or stay the same, the citrons main purpose was to increase income by exploitation that the fact that medium term maturities had higher yield than short term investments. On Dec 1993, for instance short term yields were less than 3%, while 5year yield were around 5.2% .which such positive sloped term structure of interest tares , the tendency maybe to increase the duration of the investment to pick up extra yield . The boost, of cause comes at the expense of great risk .the strategy went as long as interest rates went down. In February’94 however the Federal Reserve Bank starred a series of six consecutive interest rate increases, which led to a bloodbath in the bond market. The larger duration led to a $1.6 billion loss 2.1. Lessons Learned from Orange Country Case Due to the activities of Bob Citron the municipality lost $1.6 billion in financial markets. Therefore, it is essential to understand the lessons to be learnt from the Orange Country case. (a). No autocratic decisions should make in investment activities Bob Citron was investing the funds owned by the taxpayers in risky securities in Wall Street as per his own interest. Since he managed to generate higher returns for the funds invested in the early stages Citron was viewed as a wizard. This made him over confident on his actions which resulted in huge losses at the end. When the leverage increase due to these activities Bob Citron, the treasurer was warned by John Moorlach thath the pool was too risky. However, counter arguments were widely ignored and Citron was re-appointed as the treasurer. (b). Local governments need to maintain high standards for fiscal oversight and accountability. As noted in the state auditor’s report following the bankruptcy, a number of steps should be taken to ensure that local funds are kept safe and liquid. These include having the Board of Supervisors approve the county’s investment fund policies, appointing an independent advisory committee to oversee investment decisions, requiring more frequent and detailed investment reports from the county treasurer, and establishing stricter rules for selecting brokers and investment advisors. Local officials should adjust government structures to make sure they have the proper financial controls in place at all times. (c). State government should closely monitor the fiscal conditions of its local governments, rather than wait for serious problems to surface The state controller collects budget data from county governments and presents them in an annual report. These data should be systematically analyzed to determine which counties show abnormal patterns of revenues or expenditures or signs of fiscal distress. State leaders should discuss fiscal problems and solutions with local officials before the situation reaches crisis stage. (d). Always aware of the negative side on risky investments The treasurer was assuming that interest rates would fall or stay low when he goes for huge investment activities. However, when the things moved the opposite direction and the interest rates went up the pool suffered severe losses. Therefore, always be cautious when making predictions on market phenomena. (e). Use proper statistical risk assessing methods before invest in securities An investor could use a proper risk assessment method such as Value At Risk (VAR) method to assess the market risk of the portfolio. VAR is the maximum loss over a target horizon such that there is a low, pre specified probability that the actual loss will be larger. Therefore, shareholder and managers can decide whether they feel comfortable with the given level of risk. 3.Case study on the Procter & Gamble on Derivatives Losses & Lessons Learned Procter & Gamble Co. is a Fortune 500, American global corporation based in Cincinnati, Ohio, that manufactures a wide range of consumer goods. In late 1993, Proctor & Gamble financial managers, well known for actively managing their interest costs, expected interest rates to drop and went to Bankers Trust searching for aggressive interest rate swaps that would allow them to profit on these expectations. P&G told to Bankers Trust about ways of replacing a fixed-to floating swap that was maturing. P&G’s specific objective was to negotiate a new $100 million swap that would †¢Again put it in the position of paying floating rates and †¢Squeeze these to a minimum. Specifically, the company wanted to pay 40 basis points (0.4 of 1%) less than its standard, upper-crust commercial paper rate (then about 3.25% for six-month paper). Bankers Trust responded with a highly levered, extremely risky, and extremely complex five-year interest-rate swap agreement. In this the P&G had to pay 75 basis points less than rate of Commercial Paper, if the interest rates of 30 years and 5 years treasury bills will remain constant or go down. Five-year Treasury rates rose from 5% in early November 1993 to 6.7% on May 4, 1994. P&G’s other benchmark, 30-year Treasury rates, went from about 6% to 7.3%. Because of large duration the effect of rise in interest rate on long term bonds was very high. When interest rates headed up, Proctor & Gamble’s treasurer realized the magnitude of the company’s potential derivatives losses and decided to get out of the swap. Because of the intricate complexities and linked derivatives of the agreement, however, P&G lost $157 million to lock-in interest rates (which were 1,412 basis points (14.12%) above the commercial paper rate) in only six months of a five year contract. When interest rates headed up, Bankers’ trust entered into another contract with P& G- a wedding band. When this strategy also failed, it led P& G to pay even higher rate of interest from 14.12% above Commercial Paper (CP) to 16.40% above CP. CEO Edwin Artzt, called the swaps â€Å"a violation of the company’s policy against speculative financial transactions† and banned all leveraged swaps. As the Bankers Trust had suggested the contracts, P& G blamed them for the losses. 3.1Lesson Learned from Procter & Gamble Case The Procter and Gamble Case explains following, (a)Legal dispute between P&G and Bankers: Therein lies the crux of the legal dispute between P&G and Bankers. P&G claims that before the swaps were signed, Bankers repeatedly assured it that in the early stages of the swaps, the company would be able to do lock-ins at acceptable prices. Court papers, in fact, include letters from Bankers that make such assurances, though these consistently cite assumptions of stable or only slightly rising rates. P&G says, however, that on one occasion it â€Å"pointedly† asked the Bankers Trust person with whom it was dealing what the lock-in situation on the first swap would be if rates and volatility were not â€Å"stable.† The answer, P&G says, was that â€Å"possible changes in rates or volatilities would not have a material or significant effect† on the company’s lock-in position. (b) Purpose of Deliveries: A P&G spokeswoman stressed that the transaction was â€Å"speculative and goes outside the P&G policy of conservatively managing our debt portfolio.† Asked whether the company’s treasury was expected to be a profit center. In a speech, William J. McDonough, president of the Federal Reserve Bank of New York, warned that top managements of financial and nonfinancial companies have a responsibility to understand and constantly monitor derivative markets when their companies are involved in them. Also Mr. McDonough said. â€Å"To put it simply and directly, if the bosses do not or cannot understand both the risks and the rewards in their products, their firm should not be in the business.† 4.Case study on the Showa Shell Sekiyu on Derivatives Lossess & Lessons Learned Showa Shell Sekiyu is one of Japan’s leading oil refining companies and is engaged in producing gasoline, diesel fuel, fuel oil, kerosene, lubricants etc. It was established in 1876 under Samuel Samuel & Co, and was later became a subsidiary of Royal Dutch Shell group, in 1985. And presently, 50% of shares are owned by Royal Dutch Shell Group. In the year 1993, the Company made history by making approximately USD 1.4 Bn with unauthorized forward currency transactions. As an oil importer, company imported crude oil in US Dollars and sold the end products in Yen. Showa Shell had been used to hedge a proportion of its currency exposure using foreign exchange forward contracts. In 1989, company entered into a series of forward options where it agreed to buy dollars forward at an average rate of USD 145. Over the next few years Yen strengthened ageist the dollar. However, at the time of maturing of these contracts, the foreign exchange rate was at USD 125, indicating a difference of USD 20 or a drop of approximately 14%. But, treasury department of the company decided not to recognize the losses and chose to roll over the forwards using historical rates, without appropriate internal authority. And consequently, the actual losses made were concealed within the new forward contracts, and this actually meant that the company was borrowing money under the guise of forward contracts. This practice or rather malpractice was continued until the end of 1992, and at that time the company had in excess of USD 6.4 Bn of forward contracts on their accounts, and out of this, it was revealed by the management of the company that hidden financial losses were USD 1.4 Bn. And the losses amounted to more than five times of its annual oil import at that time. Four senior executives of the company had resigned following the discovery of unauthorized currency dealing including, Kiyoshi Takahashi chairman of Showa, Takeshi Hemmi the president, who took responsibility for the dealings that resulted in the huge losses. The resignations were made as shell, one of the biggest world oil groups , reported a 28% decline in net profits. Main reason for the losses was that treasury department of the company, entering into unauthorized forward currency transactions, with the expectation of US Dollar to rise against Yen, and attention was not given to the fact of worsening the situation in case of Yen strengthening against Yen. John Jennings, then Shell Group managing director, had stated that, an unauthorized currency speculation was like â€Å"A gross contravention of established rules and practices which was deliberately canceled†. The continued dealings that were made were the result of one treasury manager trying to recoup losses amounting to single figure millions, incurred during normal course of his job, although with failures in attempts made, continues dealings were made by exposing the company to increasingly large exchange rate risks. 4.1Lessons Learned from Showa Shell Sekiyu Case These huge losses made, forced the company to focus on more tight internal controls and focus on the importance of having internal controls. Although defining of risk limits is not necessarily provide results, if proper controlling is not there to take corrective measures, in case of deviations. And furthermore, it is never advantageous to assume that market fluctuations can be predicted accurately, at all times. And if being successful in the past, it can purely be due to luck and it does not guarantee that next time would be the same. Company incurred the losses on the assumption of currency value increasing rather than decreasing. The purpose of using derivatives is to hedge the risk and not to make profits by speculating and speculators take huge risks, rather than hedging risks. Company should have focused on the fact of maintaining their crude oil import price by mitigating exchange rate risks by using the forward contracts. If a loss is made in the process of trying to maintain price level, although losses are made in the profit and loss account, the objective of maintaining price level is still achieved. This fact is very important in dealing with derivatives and should not make harsh judgments on losses made when trying to maintain price level. It is difficult to measure the exact point, where, the hedging of risks ends and being speculative starts. And in Showa case, treasury department of the company, who were there to hedge risk, had dealt as a speculator and without adhering to the internal controls and not obtaining proper approval for its dealings. In addition, it took more than four years to recognize this malpractice by the higher authorities, which pin points the lack of transparency in accounting practices. And it was blamed by some experts on the Japanese accounting system, since the dealings were not identified earlier. And the dealings were only revealed by chance, during a conversation between a Japanese bank manager and Showa manager.

Hayes and Wheelwright Strategic Model Essay

In their four-stage model, Hayes and Wheelwright (1984) categorize different types of organizations based on their attitude towards their operations. The four stage model is underpinned by their belief that an organization’s operations can provide a source of competitive advantage. It can only do this if the operations function is managed strategically. A stage 1 organization finds it impossible to manage its operations strategically, as its operations performance objectives are continually changing between low cost, increased flexibility, improved quality, etc. Because operations managers never have the time to focus on a consistent set of objectives, a stage 1 organization is characterized by a reactive approach to operations management. In such an organization, operations can never provide a source of competitive advantage. A stage 2 organization manages its operations by seeking to emulate those of its competitors. It is likely to copy the prevailing best practices of its industry, such as JIT (just-in-time), TQM (total quality management), BPO (business process outsourcing) etc. However, as they always adopt these techniques in the wake of industry leaders, they are never likely to have developed the same level of expertise in their application. The best that such an approach can achieve is to match the operations performance of its competitors. Although the combination of operations practices adopted by a stage 2 organization may be considered by some as amounting to an operations strategy in that they are consistent, they will not be overtly linked to business strategy. Indeed, it may be that such an operations strategy is inappropriate for the organization’s business strategy. In any event, a stage 2 organization’s operations cannot provide the basis for competitive advantage. A stage 3 organization has an operations strategy that is linked to and derived from its business strategy. This means that its operations performance objectives are aligned with, and supportive of, its business objectives, offering the possibility that operations can provide the means of achieving a competitive advantage. The chances of achieving competitive advantage will be considerably increased if the organization has adopted industry best practice in its operations. A stage 4 organization is radically different to one at any of the other stages. It uses its operations excellence as the basis for its business strategy – an   perations-based strategy. The operations of a stage 4 organization are at the forefront of developments in best practice in that they set industry standards in ways that delight customers. Thus, the organization’s operations enable it to retain its existing customers and attract new ones. For an operations-based competitive advantage to be sustainable, the organization must continually develop its operations, as any source of advantage is liable to be imitated by competitors. To remain at stage 4, an organization needs to learn how to make the most of its existing resources and competences to learn how to develop new capabilities. Recent advances in the understanding of organizational performance have emphasized the importance of path dependency (i.e. how organizations got to their present position), the dynamic nature of the capabilities on which organizational success ultimately depends and the role of organizational learning.

Palm reading

Personalities through their palms. Specific purpose: By the end of my speech my audience will learn how personality palm reading is dependent on nerves and another 3 major life lines . L. Introduction: A. Attention Getter: (I'm going to say the personality traits of a classmate) , you ask how I know all this about his about him , its all here written in own his hands. Transition: Sometimes our eyes hide what our hands read. Since our palms, hands and fingers are all maps that tell us about our personalities and where were going through our lives. B.Reason to Listen: I bet everyone here has looked to his hands ND wondered what those silly lines meant. Well palm reading provides the answer for all this. C. Thesis Statement: According to Dictionary. Reference. Com palm reading is the practice of interpreting ones character from the lines and configurations of the palm of the hand . D. Credibility Statement: Throughout my life I have always heard bad things about palm reading, since its accuracy has always been questioned because it has always been linked with forecasting and never been proven with any scientific facts to back it up. It is wrap off ! Owe could you believe in such things ! They use you in order to take your money. After deep research I concluded that its not what people actually think it is a simple process based on our biological features and our nervous system. It is an art practiced worldwide and with Indian astrology roots . E. Preview of main points: I will discuss how palm reading is related to the nerves and brain. Body A. In Order to understand how to read a palm we must first understand how does this process work . 1. Our nerves have a long path that begins with the brain and ends at our body extremities : the hands and the feet. . This connection between our nerve endings and our brains is thus what makes our mental thoughts reflect into our hands. Making everything we want, do, behave, love or hate visible. Transition: The first question asked about palm reading is which hand to read? B. The Palm reader usually chooses each person's dominant hand. 1 . The dominant hand is the passive hand the one you usually use the most and write with , it is all the experiences gained through-out your life while the non dominant hand is considered the experiences you will go through in the future . . The next step is determining the shape of the palms , we have 4 shapes unhand : the Earth hands which are square in shape with short fingers. People with Earth hands are practical, stubborn and love outdoors activities. 2. The Second shape is the air hands that are square in shape with long fingers. People with these kind of hands are curious, full of ideas, worry a lot, good communicators, but may have problems with private relationships . 3. The third shape is the fire hands that have a long palm but short fingers.People with fire hands are full of energy, spontaneous, optimistic, active, but have of lack patience . 4. The last shap e is the Water hands that are rectangular in heap with long fingers. People with water hands are very moody yet loving, caring, don't cope well with stress . Transition: Now we move on to the 3 major lines of the palm. C. Each line of the three tells a different story about each individual . 1. Im going to start with the top line in our hands, the heart line. It is the line that determines the sensitivity and the emotional aspects of a person.If the line starts below the index finger, it means that he is happily in a relationship. Whereas if the line starts below the middle finger, it means that an individual is selfish when it comes to love. If it starts in the middle, then it means that an individual falls in love very easily. However, the curvier the line is the more romantic the individual is, and the straighter it is the less romantic a person is. If it touches life line then it means that the individual is easily heartbroken.But when the line is Www then it means that the indi vidual has experienced many relationships and lovers. Finally a circle on the line means that the individual is sad with his life . 2. The Second Line , is the middle one The Head Line . Alt determines how focused or easily distracted a person is. When the line is short, it resembles that an individual is short and direct to the point, whereas the longer it is the more creative and thoughtful an individual is, but the straighter it is, it means that the individual has very clear thoughts.Finally, if the head line is wavy, it means that the individual has a lack of concentration. 3. The curves beside the thumb represent the third major line the life line, the closer they are to the thumb the less enthusiastic and passionate for life the individual is, while the curvier they are it means that an individual has a great eve for life , if it swings out it shows that the individual likes to travel often, but if there are breaks it means that the individual has a weak immune system.Any add itional line means that an individual is surrounded with positive vibes. Ill. Conclusion: A. Review of main points: So Palm reading does not tell you the number of kids your going to have , nor at what age will you die or the name of the pet your going to bring next year. It is a simple art that interprets your personality through the reading of your palms and not a fortune telling myth. B. Closure: Now that you all know everything about palm eating you can each know more about your own personality. True or not.It is an easy, fun unharmed process that takes only a couple of minutes. Palm Reading Palmistry We all wonder what awaits us in the future. We wonder about our health, our careers and of course, our love life. Well the answer to all of these questions may lie quite literally in the palm of your hand. Palmistry, or palm reading, is the practice of predicting the future outcomes through the study of the palm. This study dates back to 3000 BC in ancient Egypt and still being practiced today worldwide. Today we will discuss how our palm lines can tell us about our future and ourselves, as well as learn the basics on how to read a palm.Which will include the four major lines: the heart, head, life and fate line. First of all, how is that our future can be determined through mere palm lines? We all know that our physical health can be affected by stress and psychological negativity. Our mental outlook and attitudes also form our reactions to life’s events. According to the journal, â€Å"English Literature in Transition† by Joan Navarre, the brain, through the high concentration of nerves in the hands, can influence the condition of the palms and the patterns of the lines in them.It’s Also important to know that our palm lines are not fixed and we are not doomed to a future already set in stone. In fact, our palm lines change throughout our lifetime, some more frequently than others. As we mature and change our ways, our palm lines will modify accordingly. They may get deeper, straighter, form new lines, or some may even disappear. In addition to changing lines, as you have probably noticed already, the lines on your left and right hand differ. Your weaker hand, whether it be right or left, represents what we are born with and our private self.The stronger hand represents what we do with our lives, the actions we take and our public self. According to the article, â€Å"A Modern Palmist†, by Ania Blomberg, in the Feb 2011 issue of the â€Å"Torquay Herald Express† Your current palm lines are indicators of the likelih ood something will happen, as well as a window into your past. Our Next step is learning our major palm lines. The first of the major lines we will discuss is the heart line. It begins on the side of the hand, spans across the palm and ends in various places.If it ends under the first finger it signifies an introspective and possibly self-centered person. If under the second finger, you are a giver and always put the needs of others before your own. Ideally, the heart line should end between the first two fingers, signifying a balance between giving and receiving. A straight heart line suggests your head gets involved in matters of the heart. In other words, You don’t let your emotions make your decisions for you. A curved heart line indicates you are a romantic and always wear your heart on your sleeve.For most people the heart line is the deepest and darkest line on the palm. The second line is the head line. It begins on the side of your hand under your first finger spanni ng across the palm ending at various lengths. If your head line is straight you are logical, detail oriented and organized. If your line is curved, you are more creative and artistic. According to the book â€Å"The Hand from A-Z: The essentials of Palmistry† by Judith Hipskind, The length of the head line symbolizes your attention span and ability to concentrate. The longer the head line the more focused you are.Additionally, If there is a fork at the end of the head line, it means you can see both sides of an issue and will love debating. This is sometimes called a lawyers fork. The third of the major lines is the life line. According to humanhand. com, in modern palmistry the life line does not tell you how long you will live but how you will live. It does however represent a timeline of events. The area where it begins, between the thumb and first finger, represents the beginning of your life, then curving down around your thumb and ending at your wrist, which would repre sent old age.Lines crossing the life line signify important events, and where they are located indicates when the events are likely to happen. If your life line sweeps out toward the center of your hand, you will most likely seek independence and travel often. By contrast, If it hugs close to your thumb you are more likely to stay close to home and family. If caught in between, you may struggle between security and the need for independence. Breaks in the life line can indicate times of major illness or stress.If you notice smaller, fainter lines that connect the life and heart line, they indicate strong romantic relationships. Where they are located on the life line represents at what point in life the relationship is likely to happen. In addition, the number of these lines suggests how many of these relationships you are likely to have. Finally we come to the Fate line. This line begins near the heel of the hand and runs through the center towards the middle finger. According to p almistryfree. com, this line is volatile and only found in about 50% of the population.It is tied to your personal life path, including school, career choices, successes and obstacles. If this line is absent, you are unsure of the direction of your life. If your fate line is strong, you have specific goals and direction. If only lightly etched you could easily waver between the two. The beginning and ending of the line also plays a role. When the fate line begins on the wrist, you have always done things your own way and may be a bit of an oddball. If it begins more toward the center of your hand, it took a while for you to figure out who you are and what to want to be.Now that you know how our palm lines come to be and how to examine your own heart, head, life and fate lines, you can predict what sort of future to expect for yourself if you continue down your current path. However, it is ultimately our will that shapes our lives, not our palm. The practice of reading palm lines is not to predict doom, or even happiness. They are instead a guide. The purpose of palmistry is to help you see the way ahead so you can actively plan a successful and prosperous future.